Even during the usually slow holiday season, the housing market is hotter than ever this year.
Low supply and incredibly high, Covid-induced demand have made buyers beyond competitive and sellers particularly picky. As a result, all-cash deals, which sellers favor, are rising in certain regions and at certain price points.
All-cash sales now make up about 36% of the market, according to realtor.com. That is only a very slight rise overall from last year. Yet cash sales are climbing more dramatically in the Northeast and West, up 3 and 2 percentage points, respectively. It is happening despite the fact that mortgage rates have set record lows.
Real estate questions:
1. What is the average down payment for a property being sold in America?
2. What percentage of real estate transactions are purchased in cash?
real estate answers
Answer to question #1 – 12% of the sales price.
Answer to question #2 – 36% of real estate transactions are cash deals.
More interesting real estate stats in the video above.
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Updated: Boston Real Estate Winter 2020